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A Global Powerhouse in the Making Sector: Global Industrials / Energy Transition Current Price: €43.62 | Target Price: €74.50 The Institutionalization of a Global Champion I maintain my BUY rating on Metlen Energy & Metals (MTLN) , raising the 12-month price target to €74.50. The investment thesis has evolved from a "Greek recovery play" to a "Global Industrial Leader" narrative.Read more

Recommendation: I remain sidelined, NEUTRAL (HOLD );— Slight bearish tilt Rating agencies' views reinforce a mixed picture: post-acquisition upgrades (Fitch to 'B+' IDR with 'BB' notes, Moody's to B2 stable, Morningstar DBRS to B(high) positive trend, S&P to 'B-' stable) reflect improved scale, synergy potential, and deleveraging path, with projected adjusted EBITDA margins largely resilient at 37-38% (S&P over 2025-2027), ~38% (Morningstar DBRS), and above 35% (Fitch pre-revision emphasis on margin expansion via integration). However, Fitch revised its outlook to Negative in December 2025 due to "material exposure to increased UK taxation," which will result in lower-than-previously-expected EBITDA (though not quantified as a sharp margin drop—management mitigated the 2026 impact to ~4% via €84M offsets, revising FY2026 EBITDA guidance to €420-440M from prior higher targets).Read more

Viohalco could get an unexpected boost as Europe tightens rules on imported metals, making it harder for cheaper overseas supply to undercut local producers. The bigger story may be its fast-growing cables business, which stands to benefit as Europe upgrades power grids and electrification accelerates—though swings in metal and energy costs could still bite.Read more

I view GEK TERNA entering 2026 with a robust €6.9 billion order backlog, positioned to capture outsized share from Greece's infrastructure renaissance, yet trading at a discount to peers on undervalued concessions like Attiki Odos. My non-consensus edge stems from accelerated EU Recovery and Resilience Facility (RRF) disbursements—€35 billion through 2026—fueling a 15%+ revenue CAGR, overlooked amid near-term macro noise.Read more

Metlen Energy & Metals continues to position itself as one of the most dynamic growth stories in Europe. The company’s historic focus on renewables, particularly through asset rotation, is now being complemented by two new strategic growth pillars: Circular Metals and Defence operations.Read more

AEGEAN grows profits fast even after losing a key route, showing it can quickly shift planes to where demand stays strong. A possible partnership or plane-delivery update later this year could give the airline another lift—but regional tensions still loom.Read more

Unibios leans into a growing need for reliable water on Greek islands, winning desalination work as the country upgrades aging water systems. The bigger question is whether it can turn that local momentum into a durable business by integrating a French solar-desalination company and expanding abroad, without stumbling on execution.Read more

A Tale of Two Engines: Coca-Cola HBC (EEE.AT) By the end of 2026, the valuation of Coca-Cola HBC (EEE.AT) is projected to reach a "New Normal." The convergence of the Sept 21, 2026, Developed Market upgrade and the formal closing of the CCBA acquisition creates a unique valuation window where the stock sheds its "emerging market discount" while fully pricing in its "African growth premium." ________________________________________ 1. End-of-2026 Target Price Summary Based on the 2027 forward-looking earnings (the metric the market will be pricing in by December 2026), the projected share price is: • DCF-Derived Target (End-2026): €56.40 • Comparables-Derived Target (End-2026): €52.80 • Consensus Year-End Target: €54.60 ________________________________________ 2.Read more

Titan Cement says the market is too focused on incoming carbon rules and is missing how its U.S. business and a new Turkey plant could lift growth and cash generation. The upside depends on clean execution and avoiding delays or cost shocks as the company ramps greener cement and integrates the acquisition.Read more